Reuters exclusively reports private equity-backed Canadian oil producer Strathcona in talks to buy Caltex Resources

Last Updated on 22/09/2021 by

Business & FinanceEnvironment

Reuters exclusively reported that privately-owned Canadian oil and gas producer Strathcona Resources was in advanced talks to buy rival Caltex Resources for around C$700 million ($553 million), to boost its portfolio of enhanced oil recovery businesses. The planned deal adds to slew of another Canadian energy sector M&A this year, as oil companies embark on a wave of consolidation to build scale and cut costs to capitalize on rising oil prices.

Article Tags

Topics of Interest: Business & FinanceEnvironment

Type: Reuters Best

Sectors: Commodities & Energy

Regions: North America

Win Types: Exclusivity

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Important Regional Story

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